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Lloyds TSB increases rate on Young Saver account

Young savers can now boast their savings and get into a savings habit with the Lloyds TSB Young Saver account that pays a three per cent AER variable interest rate for balances up to £20K and 0.50 per cent on balances thereafter.

This will be available from 15th August 2011.

The Lloyds TSB Young Saver can be opened for as little as a £1 by an adult on behalf of the child. Existing Young Saver customers should visit us in branch to benefit from the boost in interest rate.

Greg Coughlan, Head of Children's savings at Lloyds TSB comments: "Now more than ever is a really important time to teach the adults of the future the value of money management. Increasing the rate on our Young Saver account is one way we can help invigorate the children's saving market".